CTSL CEO Charlie Gilichibi

Defence Super Fund fixes Negative Contributions

This is an outcome following close collaboration with the respective payroll agencies of the Department of Finance, Department of Defence, and the PNG Defence Force.

CTSL CEO, Charlie Gilichibi, said ‘negative contributions’ is a long-standing industry issue that needs to be brought into alignment with legislative and regulatory compliance and putting in place controls to address operational risks.

A ‘negative contribution’ is used to adjust a previously overpaid contribution amount paid to a super fund by an employer on behalf of an employee.